VOW Volkswagen AG

   By Kim Richters 
 

Volkswagen AG said Friday that its operating result before special items will be significantly lower in 2020, according to preliminary figures.

The German car maker said the operating profit before special items, which are related to its diesel scandal, should be around 10 billion euros ($12.17 billion) for 2020.

In 2019, operating profit before special items was EUR19.3 billion.

Reported automotive net cash flow is expected at around EUR6 billion, it said.

The company said group deliveries in the fourth quarter of 2020 were higher than in the third quarter and led to "strong group turnover."

"Despite the ongoing unprecedented Covid-19 situation, the Volkswagen AG has proved to be quite robust in the second half of 2020," it said.

Volkswagen plans to release main financial figures for 2020 and guidance for 2021 at the end of February.

Write to Kim Richters at kim.richters@wsj.com

(END) Dow Jones Newswires

January 22, 2021 05:56 ET (10:56 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.